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Investing.com – The is doing better than the in recent days. Indeed, while BTC is up 2.26% over 24 hours and 1.64% over a week at the time of writing this article, Ethereum has gained more than 4% since yesterday, and almost 8% over 7 days.
However, a significant part of this rise was achieved in less than 30 minutes last night, while Ethereum rose from $1215 to $1280 last night between around 1:20 and 1:50 CET, a jump of more than 5 %.
Now slightly down at $1,265, Ethereum retains most of last night’s gains, however.
However, if the reasons for this outperformance of ETH compared to BTC remain unclear, certain data indicate that the situation could persist, and that Ethereum could significantly increase its rise.
Blockchain Data Suggests Ethereum’s Further Rise
Blockchain data analytics firm Santiment indeed reported in a tweet yesterday that the number of active Ethereum addresses soared to their highest level in 6 weeks on Monday, suggesting that this explains the rise in the cryptocurrency.
Santiment further pointed out that the last time active ETH addresses hit such highs (October 15), Ethereum price rose 30% in 3 weeks.
In another tweet posted on Wednesday, Santiment went on to point out that the number of Ethereum addresses holding 100-100,000 ETH hit a 20-month high, suggesting a buildup that could support the upside.
Ethereum is a scam and will eventually implode according to Klippsten
Unrelated to Ethereum’s recent rise, there has also been some particularly strong talk about Ethereum from Cory Klippsten, CEO and founder of Swan Bitcoin, a company that offers buy-and-book services. savings in BTC.
Speaking in an interview with Kitco News, Klippsten, who predicted the collapse of FTX, suggested that Ethereum’s recent transition to a Proof of Stake (PoS) protocol ), was going to lead the ETH network to its doom because it makes it more and more “complicated” and politicized.
“Ethereum is a long scam,” he said, adding that “this thing is kind of theoretically broken from the start, trying to pack way too much functionality into a layer 1 protocol.”
Moreover, according to him, “all proof-of-stake networks are doomed from the start and cannot exist in the long term”, considering that PoS networks “are inherently political” and that “they are fundamentally just fiat currency,” to conclude that Ethereum will “ultimately be a big explosion.”